By Mark Schaub, David Hong and Atticus Zhao  King & Wood Mallesons’ Corporate & Securities group

The smartphone is ubiquitous in our daily lives.

For many people life without a smartphone is simply unthinkable.

There is probably no nation which loves smartphones more dearly than China – all 640 million of them.  In China smartphones are used to pay bills, make bank transfers, buy a coffee, hail a taxi, organize a train ticket, order food delivery, hire a house cleaner, hire a chef, messaging, browse the internet and in some rare cases they are even used to call people.
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